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Turkey loves Bitcoin, BTC fluctuates as most altcoins struggle to keep up due to active bears


Bitcoin is the top-ranked coin in the market. The price declined slightly at a rate of 0.11% in the course of the past 24-hours. The trading volume recorded is $19.906 billion, while the supply has 17,880,825 BTC coins in play. The total market cap of Bitcoin is $185.153 billion. At present, BTC is priced at $10,354.88.

More than 60% of the population in Turkey is optimistic regarding cryptocurrencies. On the other hand, a majority of the Austrians are bound by skepticism. ING, based out of Netherlands, conducted a recent study which showed that the more than 40% amongst the Romanian people had adopted cryptocurrencies.

In 2018, rapid inflation had affected Turkey, and the lira was dropping incessantly. By the end of this year, the economy will be on the path to recovery. Industries are collapsing, and manufacturers are running out of funds. Bitcoin and other cryptocurrencies have aided the nation and its citizens greatly.

A similar change is visible in certain Latin American countries, namely Brazil and Venezuela. A day ago, the bear market had caused BTC to drop below $10,000 for a while. The king coin has bounced back but the selling pressure is yet to fade completely.

Coinbase Custody now has over $7 billion in terms of Assets under Custody [AUC]. Their services keep growing with the passage of time. This move was announced a day ago. Coinbase has also affected prices of altcoins, including Tezos, Chainlink and many more. However, there were allegations tied to insider trading when Bitcoin Cash was added on the platform.

Bitcoin will probably have a hard time in sailing through the barriers and reaching $11,000. The BTC dominance rate has grown to 69.2%, and may soon cross the mark at 70.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.